| Popis: |
Montenegro faces a number of important country-specific factors in its work towards establishing a macroprudential policy framework. First, its small size and short history as a sovereign state limit the availability of resources, including human capital. For example, there are many information gaps around financial soundness indicators (FSIs) that will take a long time to close. Second, the principal policy objective of the central bank is financial stability given the euroization, implying no independent monetary policy. Third, Montenegro is in the process of aligning its policies and practices with those of the European Union (EU), with the aim of achieving EU accession by 2020. This will extend to the implementation of a macroprudential policy framework in line with EU and European Systemic Risk Board (ESRB) standards and regulations. |
